Here are Thursday's biggest analyst calls: Nvidia, Meta, Tesla, Apple, CyberArk, Grindr, Estee Lauder & more

Published Thu, Mar 28 20248:25 AM EDTUpdated Thu, Mar 28 20249:44 AM EDT

Here are Thursday's biggest calls on Wall Street: Wells Fargo reiterates Bank of America as overweight Wells Fargo raised its price target on Bank of America to $44 per share from $40. "We nudge 1Q24 EPS higher owing to better than previously est. capital mkts, partially offset by est. FDIC charge." Bernstein reiterates Apple as market perform Bernstein said it's getting "more constructive" on the stock but is sticking with its market perform rating. "On net, we are more constructive on AAPL given its relative underperformance (-21%) year-to-date, poor investor sentiment, and our belief that its fundamental business and financial model are intact." HSBC downgrades Bank of America to hold from buy HSBC downgraded Bank of America mainly on valuation. "Downgrade Bank of America to Hold; upgrade PNC to Hold. While there is a lot to like about Bank of America, its shares have risen 37% in the past six months, leaving limited implied upside to our TP." Goldman Sachs reiterates Tesla as neutral Goldman said it likes shares of Tesla but "market conditions are weighing on earnings." "For Tesla, while we continue to believe that Tesla is well positioned for longer-term growth given its strong position in the EV and clean energy markets we believe that softer near-term EV market conditions are weighing on earnings." Piper Sandler initiates SI-Bone as overweight Piper said shares of the surgical joint treatment company are well positioned. "We are initiating coverage of SIBN with an OW rating and $25 price target." Evercore ISI upgrades Kimberly-Clark to outperform from in line Evercore upgraded the stock following its investor day on Wednesday. "In yesterday's Investor Day ─ a first since 2010 ─ Kimberly outlined an ambitious restructuring plan to lift profits and fuel growth that we find strategically sound and financially attractive, even if it doesn't get fully 'there.'" Benchmark reiterates Nvidia as buy Benchmark said it's standing by its buy rating on Nvidia. "We continue to favor exposure to markets with strong secular growth dynamics and long-term thematic trends of electrification, electronification, factory automation, renewable energy, AI & ML, and data center connectivity, where consumer risks can be largely mitigated." Bank of America reiterates Amazon as buy Bank of America said it's bullish on Amazon's investments in AI. "Amazon announced that it made an additional $2.75bn investment in the GenAI startup Anthropic, builder of the GenAI chatbot 'Claude.'" Bank of America upgrades Estee Lauder to buy from neutral Bank of America said in its upgrade of the stock that "earnings have bottomed." "We upgrade Estee Lauder (EL) from Neutral to Buy raising our Price Objective from $160 to $170." BTIG initiates CyberArk as buy BTIG said it's bullish on shares of the cyber company. "We are initiating coverage on CYBR with a Buy rating and a $317 PT." TD Cowen initiates Grindr as outperform TD Cowen said it's bullish on shares of the social media dating platform. " Grindr has established itself as the leading LGBTQ+ social dating app through strong brand awareness, despite its relatively nascent tech. & product offerings." William Blair initiates Bentley Systems as outperform William Blair said Bentley is the "leading provider of comprehensive infrastructure engineering software." "The Tipping Point of Infrastructure Going Digital; Initiating Coverage With an Outperform Rating." HSBC upgrades Allstate to buy from hold HSBC said the stock is hitting a "sweet spot." "Upgrade ALL to Buy from Hold as rating actions do not look fully reflected in valuation." Morgan Stanley upgrades Vornado to equal weight from underweight Morgan Stanley upgraded the real estate investment trust citing "elevated leverage." "Upgrade VNO to EW; elevated leverage may limit further upside on NY REITs." JPMorgan reiterates DraftKings as overweight JPMorgan said investors should buy the dip in shares of DraftKings. "We fielded a lot of investor feedback on a flurry of negative headlines and our view as well as general sentiment is that the decline in DKNGs stock today largely seems overdone." JPMorgan reiterates AbbVie as overweight JPMorgan said the biopharma company is best positioned to outperform going forward. "Overall, immunology remains one of the most important growth drivers for the Major Pharma group and we continue to see upside to consensus estimates for most major products in the space (particularly ABBV and REGN)." Citi reiterates Boeing as buy Citi lowered its price target on the stock to $252 per share from $263 but said it's standing by its buy rating. "In our view, the fundamental outlook for commercial aerospace and Boeing has not changed – demand for new aircraft remains robust and there are only two major competitors that can fulfill it." KeyBanc reiterates Robinhood as overweight KeyBanc raised its price target on Robinhood to $22 per share from $15. "Our estimates move higher across the board as we model a higher level of trading activity and net deposits than initially anticipated, much of which drops to operating income considering a highly fixed expense base." Oppenheimer reiterates Tesla as perform Oppenheimer said it's sticking with its perform rating on the stock but that it's a leader in autonomous mobility. "While we continue to view TSLA as a clear leader in commercializing autonomous vehicle technology and believe the company has a substantial data advantage vs. peers, the incremental challenges of drivability and integration of corner cases will likely continue to prove slow to solve even as the company leverages neural network and AI technologies to mature its system." Monness Crespi Hardt downgrades Palantir to sell from neutral Monness downgraded the stock mainly on valuation. "On the back of this unprecedented generative AI hype cycle, Palantir surged in 2023 and the stock's upward trajectory has continued in 2024, leaving the company with what we view as an egregiously rich valuation." Barclays reiterates Meta as overweight Barclays said Meta is one of the firm's favorite stocks heading into earnings. "Our pecking order heading into 1Q results is META then GOOGL in mega-cap, SNAP then PINS in mid-cap, and we are bullish on the digital ads group overall."